Daily Report December 19, 2017
European markets traded sharply higher with all bourses and leading sectors closing in positive territory. The DAX lead the way on a triple point move to close up more than 1.6% and above the 13,300 level. The US tax bill approval and merger and acquisition activity coupled with strength in miners and basic resources were the basic reasons behind the markets move. Anglo American lead basic resources stocks following a BMO upgrade to close up 5% on the day.
Forex & Commodities markets:
The dollar index moved lower after the surge Friday as investors look the other way and took some profits of the table. Metals gained on dollar weakness while most majors climbed vs the dollar in a narrow low volume trading day. The sterling reversed sharply to close up more than 0.5% while Platinum surged to above 910$ per ounce. There is no important news on the agenda Tuesday morning.
Swing trades follow up –
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